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MSNBC
Dec 30, 2012 9:00am PST
to the fiscal cliff deadline. still no deal on the table that we know of. negotiations are going on. we haven't heard a lot out of them. that's a good thing. that means they are still talking. that's good. joining me now, debbie stabenow. ma'am, thank you for being here. but, you are frustrated, are you not? >> t.j., i am frustrated. we should have never, never gotten to this point. last summer, the senate passed a bill so middle class families are not held in hostage to the end whether or not the wealthier americans get a tax cut. we passed a bill to the house, it's never been taken up. here we are doing what i was afraid was going to happen, holding 98% of the american public hostage to debate whether the millionaires can afford another tax cut. >> you are there on the hill. we have a loose deadline of 3:00 that reid and mcconnell had. what are you hearing as the clock ticks about where they are in negotiations? you said to me a moment ago, you are aware of a few sticking points. give us the latest. >> there are a few key sticking points. you know, it really does come down to the same thing
MSNBC
Dec 29, 2012 4:00am PST
's resolution? will a last-minute fiscal cliff deal get done? and if it does what will it look like. >>> we have a deal. we may still get hit with an automatic tax hike. how much will that cost you? in time for the new year, a new snowstorm headed to the northeast. we'll let you know how bad this will get. and the yore in review, up with of the most unique and appalling takes on the year in review. good morning to you all. welcome to weekends with alex witt. no alex today. taking a much deserved weekend off. i'm t.j. holmes, good to be with you. new this morning, president obama outlining his course of action if we all go off the cliff. >> if an agreement isn't reached on time, then i'll urge the senate to hold an up-or-down vote on a basic package that protects the middle class from an income tax hike, extends vital unemployment insurance for americans looking for a job and lays the ground work for more economic growth and deficit reduction. >> the president is optimistic that a deal can be reached midnight on new year's eve. listen to senate minority leader mitch mcconnell. >> we had a good me
CNBC
Dec 28, 2012 7:00pm EST
in washington. there's no deal, no new offer on the fiscal cliff crisis. president obama has just told the two senate leaders they should make the deal. the results immediately felt in the financial markets. look where the dow closed down 158 points when it became very clear nothing was happening and now take a look at where the numbers are in the after markets. we would open now down 315 points on the dow if we started trading now. down 315 points. we have much more on this throughout the rest of the program, but the market's very unhappy. we do have some good news to report tonight. looks like at least one cliff has been averted for the time being. the so-called container cliff. the union that represents dock workers and u.s. maritime lines came to an agreement today to extend their current contract for 30 days. this is a big relief now for the retail industry and consumers who were staring at real destruction again for the supply chain. here now is jonathan gold and he's vice president of supply chain and customs policy for the national retail federation. jonathan, good to see you. >> miche
CNBC
Dec 27, 2012 9:00am EST
and raises the stakes for the fiscal cliff end game because the white house had wanted a debt ceiling deal as part of the overall deal here on the fiscal cliff. republicans have been resisting that by announcing the debt ceiling limit will be held on monday, ratchets up the pressure to include the debt ceiling piece in the final package, whatever that may be, but still not clear, carl, there is going to be a final package of any kind. one quick note, we saw the realism. pact in the real world of the debt situation. treasury announcing yesterday it has suspended the sale of state and local government securities, government series securities. so already, they are doing some maneuvering here financially to try to avoid that debtly limit. the treasury secretary says he doesn't know how much wiggle room they are going to have, given that all the fiscal cliff uncertainty is out there. >> eamon, on this idea that the house members get called back with 48 hours' notice. traders are looking for that headline if it happens almost that bleed out there or procedural moment where that is announced, so
MSNBC
Dec 28, 2012 9:00pm PST
. that whole fiscal cliff thing, where congress and the white house can't reach a deal on taxes and spending before the end of the year and they maybe get us into a recession, it's definitely happening. that was the whole point of president obama's press conference this afternoon. >> i still want to get this done. it's the right thing to do for our families, for our businesses, and for our entire economy. but the hour for immediate action is here. it is now. >> allow me a quick update here. that press conference, it came after president obama met with john boehner and nancy pelosi and harry reid and mitch mcconnell, so all the key congressional leaders. and listen to the president here. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable. why everything always has to wait until the last minute. well, we're now at the last minute. and the american people are not going to have any patience for a politically s
FOX News
Dec 29, 2012 3:00am PST
. the president said he is modestly optimistic about a fiscal cliff deal getting done before new year's eve. >> clayton: they all said the same thing. presidential meeting with the leaders yesterday. harry reid. >> juliet: vice president showed up. >> clayton: they must have been all on the same table hey whether we lee this table we will say modestly optimistic. listen to senator mitch mcconnell who may be the linchpin of this whole thing. he said i will take the ball and run with it in the senate. get a deal done. listen to the senator. >> we had a good meeting at the white house. we are engaged in discussions the majority leader and myself and the white house in the hopes that we can come forward sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. we will be working hard to see if we can get there in the next 24 hours. so i'm hopeful and optimistic. >> charles krauthammer calling him a master negotiator. saying if it were left up to him he could solve the syrian civil war in a weekend. >> dave: he can get it done but there
CNBC
Dec 26, 2012 3:00pm EST
freeze or maybe the layoffs if a fiscal cliff deal was not reached. still no deal as we stand. only a few days to go. are you actually planning a hiring freeze or layoffs? >> i think every business man plans the fall part of the year, particularly if they are on a calendar fiscal year. we put "x" percent of our budget at risk with a contingency just in case things go bad in the economy. >> what percentage is that now? >> i don't want to tip off to the street what our -- what our plan is, but what i will say is that we have doubled our contingency this year which puts in a set of action plans that we act on depending on what happens in the economy. so we pull back on cap "x" and gain cap "x" and we include head count. >> us a well know, mark, we've had a whole parade of ceos like you who tell us the very same story. we're waiting. what are you waiting for? what would you like to see from washington that gets to you unleash that cap "x" and other things? >> the best deal would be a big deal. >> you want a grand bargain? >> i mean, americans don't want plan "b." they don't want a short-term
MSNBC
Dec 30, 2012 2:00pm PST
. >> 30 hours to go until the country hits the fiscal cliff and still no deal. i'm melissa rayberger, and the white house has sent one of its top negotiators to capitol hill, but right now it's all centered on the senate, and as democrats dig in to protect social programs, republicans do the same on taxes. >> raising taxes to pay for new spending is not something that republicans believe this debate ought to be about. it ought to be about reducing the deficit and the debt, and what they are essentially suggesting is we want new taxes. we want higher taxes on people in this country to pay for new spending. >> so what happens next? with us nbc news capitol hill correspondent mike vic rah and nbc news white house correspondent kristen welker. mike, let's get started with you. what's happening right now in the senate. i understand there's an update on the chained cpi. >> reporter: they say the darkest hour right before the dawn, melissa. everybody ought to hope that's true, at least if you don't want to see your taxes go up on midnight on monday and tuesday night because everything seems
CNBC
Dec 26, 2012 7:00pm EST
left in 2012. no fiscal cliff dealing in sight. now we are talking about hitting the debt ceiling on december 31. what are the top trades for 2013? cnbc contributor michael farr. good to see you. great to have you here. >> thanks, michelle. wonderful to be with you. >> have you heard about what timothy geithner said tonight? >> you are way better looking than kudlow. i know you heard that. this is a much better screen to look at from our glide flattery will get you everywhere. did you hear secretary geithner sent out a note saying that -- letter, official letter saying we are going to hit the debt ceiling monday. lee business days notice. >> perfect. >> what will that do to the markets tomorrow? >> you and i talked about this is a couple of years ago when we hit hit it in july and i was dead wrong. i was entirely dead wrong. i thought congress would make sure we wouldn't lose our aaa debt rate. >> and we did. >> and -- yeah. i figured certainly logically that yields would go up on bonds. and that the stock market would fall and just the opposite happening. what happen this time to
CNBC
Dec 27, 2012 7:00pm EST
for sunday night. that stokes investor hopes for a fiscal cliff deal and this coming just a few hours after harry reid's comments sent the dow into a tailspin. we have complete coverage in this developing story which is happening tonight as we speak. also, as supplies from the obama team, ep achieve lisa jackson stepping down. can the coal companies finally breathe a sigh of relief? guess what happened in britain when the uk banned handguns. the surprising result that could change the gun control debate. "the kudlow report" start ises right now. >>> the big news tonight, still the developments in washington on the fiscal cliff, eamon javers joins us with the details. >> good evening, meshel. capitol hill sources tell cnbc that congressional leaders are planning to go to the white house tomorrow to meet with president barack obama and it is not entirely clear at this point when that meeting will take place and details are still being hammered out and we saw today a blistering series of rhetorical jabs from one side to the other and it's not clear as a result of all that whether a deal can, i
FOX News
Dec 30, 2012 3:00am PST
newspaper reports what in the world is going on with the fiscal cliff, you hear about a small deal sort of in the works between harry reid and mitch mcconnell, maybe it's not voted on until monday, maybe no deal at all. maybe sequestration is going to happen so for that let's go to washington. >> juliet: all right. tick-tock, tick-tock, time is almost up for lawmakers as we say to avert the fiscal cliff. they worked throughout the weekend in hopes of hammering out some sort of deal. >> dave: peter doocy is live in washington and we hustle you over to the capitol. and what is the latest, do you think we'll get something done? >> reporter: dave, we were told late in the evening that legislative staff was going to work through the night, but the only principal we heard from was mitch mcconnell who said he and his democratic counterparts have been trading paper all day saturday, but the only big news, mcconnell cared to share with us, in the state he represents, kentucky, louisville beat the university of kentucky by three and meanwhile, the officially republican weekly address features ano
FOX News
Dec 27, 2012 8:00am PST
and all house members are not here in washington trying to work out a deal on the fiscal cliff. here is more from leader reid a short time ago. >> if we go over the cliff and it looks like that's where we're headed, mr. president, the house of representatives, as we speak, with four days left after today before the first of the year aren't here with the speaker having told them they will give them 8 hours notice. i can't imagine their consciences. >> reporter: of course president obama has left hawaii. he is heading back to washington from his family vacation. we learned from the white house that the president had made calls to the top four congressional leaders mcconnell and boehner on the republican side, pelosi and reid on the democratic side. we'll see what the president has in mind when he touches down back in washington a little later this morning, harris. harris: mike you mentioned it. i'm mentioning it too. it is coming into the newsroom from senator mcconnell's spokesperson and just wondering what the republicans say they want. they want to review legislation and make decisi
ABC
Dec 28, 2012 5:30pm PST
the fiscal cliff. but no deal, as anger builds across the country, the clock is ticking. just four days left before taxes go up for all americans and federal programs see major cuts. we've shown you the math here. the average american household would see their tax bill go up nearly $3,500. this evening, president obama telling congress, the american people are watching what we're doing here. he appeared in the briefing room a short time ago. let's go right to jon carl tonight. good evening. >> reporter: good evening, david. there are finally signs of life here in washington. after meeting with congressional leaders here at the white house, the president pronounced himself modestly optimistic that a bipartisan agreement can finally be struck that would prevent taxes from going up on virtually everybody in just four days. after meeting with the congressional leaders, the president said there would be one more effort to come to a bipartisan agreement to avoid the fiscal cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a p
CNBC
Dec 27, 2012 4:00pm EST
cliff. no deal yet but we're getting lots of mixed messages. >> that's a good way to put it. >> mixed messages around washington today with some animosi animosity, but here's what senate majority leader harry reid had to say just a little while ago. listen. >> i say to the speaker take the escape hatch that we've left you. put the economic fate of the nation ahead of your own fate as speaker of the house. millions of middle class families are nervously watching, waiting and counting down the moment until our taxes go up. >> well, senator kay bailey hutchison is republican from texas, first elected back in 1993 and served in leadership positions and been an outspoken nor to the budget and defense. senator, great to have you with us here. >> we sure are going to miss you, one of the great group of moderates. >> maybe you're relieved to be leaving at this point. >> thinking of new year's eve here in washington and thinking, you know, this is the time to exit. >> go out while things get a little mess over there. how will you feeling after the variousade lines toit about getting things don
FOX News
Dec 27, 2012 7:00pm PST
, to be here, to be available if there is a last-minute deal to avert the fiscal cliff. it's a positive sign that if congressional leaders reach some type of deal, the house and senate will be in town to get votes on the record. >> right now the spending that we have in washington d.c. is affecting this country. >> i hope the speaker and his republican party will be here, democrats, working to finish the task in reaching an agreement to avert the fiscal cliff. >> barrasso said president obama is eager to go over the fiscal cliff. senator barrasso joins us. well, why do you say that? >> well, i think the president sees political victory at the bottom of the cliff in term of the increased tax money coming in that he can spend for other programs. i think he sees a lot of cut to the military which the democrats have been after for a long time and then he gets to do what he loves to do, is to blame republicans. my concern is that i actually see financial problems for our nation at the bottom of the cliff and that's why i want to get a solution. >> tomorrow do you think it's going to be the beginn
MSNBC
Dec 28, 2012 3:00am PST
? >> happy friday. >> there we go, happy friday. listen, this fiscal cliff deal, everyone is so sick of hearing the phrase. i it talked to several this week, members of congress and members of the senate who indicate we're going over the cliff. they say it won't be that bad. don't worry about it. there's something in me that wonders about the psychological impact of just going right over. >> mike, you're right. they are saying that, and there's a real risk especially in the white house. they know that the reaction of the markets, especially overseas, the credit raters is unpredictable. you don't want to start your second term with a double-dip recession. that's the real risk here. for republicans more and more you hear them saying and i think this is what you're refer to here. you hear them saying, let's just wait until people get their first paycheck. wait until they get that pay economic when there's less withheld and there's not a payroll tax holiday but then they want tax relief. it's a huge risk. another political game at play here. sherman has a great story on the sight right t
MSNBC
Dec 29, 2012 9:00am PST
the countried to has the story about the looming fiscal cliff and negotiations underway to get a deal by the deadline. they refer to the talks as a "taxing puzzle." the "l.a. times" has a story on how china's tea farmers are now turning to coffee. why? coffee thrives in high altitude areas and commands as much as three times as much money as tea. >>> also "the spectrum" in st. george, utah has a story titled "unconventional laws." it's an article about how some state laws may seem strange to many residents. one that mandates bicycle riders should keep one hand on the handle bars at all times or get this you could face 90 days in jail or a fine of up to $750. >>> well, three days now to go. you've been hearing about this fiscal cliff. i know you're tired of hearing of it. you've got three more days to hear of it. we might be going off that cliff here shortly. it's the focus right now in d.c. but it's also our focus, the senate in particular. majority leader harry reid and minority leader mitch mcconnell are rushing trying to put together a last-ditch agreement for a bargain, some kind
MSNBC
Dec 26, 2012 7:00am PST
totes, a special buy at just $5.88 a piece. >>> there's still no deal to stop the looming fiscal cliff. but what happens to you if we go off the cliff? for the average american making between $50,000 and $75,000, you see a tax increase of $2,399. making between $100,000 and $200,000 a year, your tax increase is about $6,700. and on december 29th, 2 million americans will lose their unemployment benefits. i want to bring in jared bernstein, msnbc contributor and former chief economist and economic policy adviser to vice president joe biden. that's just some of the details as you so well know here but let's remind ourselves, though, of this word that we have been using. that was termed by mr. bernanke. he called it a cliff. but really -- >> right. >> it is like falling down stairs, isn't it? >> right. more so a staircase or a slope in the sense that some of the damage you just described actually takes a while to arrive and if congress is able to quickly reverse the cliff dive, it could be more and i have heard folks use this, more of a bungee yump to get back up to the cliff. >> at the e
MSNBC
Dec 27, 2012 2:00pm PST
that the house of representatives will reconvene sunday to have deal supposedly with the fiscal cliff. the dow jones industrials down by 150 points at one point recovered to lose just 18. the s&p 500 finished just two points lower. nasdaq down 4.25. congress department says sales of new homes went up almost 4.5% last month. that's the highest rate of growth in total sales in more than 2 1/2 years. that's it from cnbc, now back to "hardball." ♪ >>> if their competitor in '16 is going to be hillary clinton supported by bill clinton and presumably a still relatively popular president barack obama, trying to win that will be truly the super bowl, and the republican party as it is today is incapable of competing at that level. >> welcome back to "hardball." newt gingrich's reverence for hillary clinton is certainly a long way from the near contempt republicans held for her back in the '90s. even as a senator hillary clinton was close with some high-profeel republicans. she had friends up there. this archival l.a. times story's headline the secret friendship of hillary clinton and john mccain. but
FOX News
Dec 28, 2012 4:00pm PST
says tonight there is still time to get a deal done before we fall off the fiscal cliff. and he demanded congress take action now before it's too late. the president spoke in the white house briefing room just about an hour ago now. he was visibly tense. frustration in his voice. >> america wonders why it is in this town for some reason you can't get stuff done in an organized timetable. why everything always has to wait until the last minute. well, we are now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. >> harris: if congress cannot work out a deal, tax hikes, spending cuts will take effect on tuesday of next week. president obama says he is willing to give congress a little time to come up with a compromise but his patience is limited well as is the rest of the country's. ed henry with the news live at the white house. ed, first, a dramatic meeting earlier today at the white house. and then this ultimatum from the president. >> that's right, harris. it was a dramatic exchange. what i'm tol
FOX News
Dec 27, 2012 2:00pm PST
. this is a gimmick, the flying back from hawaii to do this. nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. call them obama cuts and get it going. if you are in congress. you make $175,000 a year. you get vacation days off. they go back and smoke cigars, eat steak, drink wine and laugh. >> andrea: is there something wrong with eating and drinking? if with pay them to do it. >> eric: they want to hit the buffet line. >> andrea: do it on their own time. not when the country is in a financial crisis. i think obama gets a superhero cape after this. >> andrea: people say republican goes down either way on this. but the house and the senate, this last election by blaming republicans. does he think he will get blamed for this? no. he figures i can do whatever i want. leave the republicans out for dead. >> eric: he is winning the messaging game. that is clear. >> andrea: i say that with confidence. he was able to say look, i was willing to meet them halfway. more than 50%. they don't want to work with us together. he is coming off stron
FOX News
Dec 28, 2012 3:00am PST
with congressional leaders on the fiscal cliff. will a deal be made or will it continue to be a blame game? we're live in washington with the latest. >> kelly: then the supreme court striking down a request from a christian business, but that same justice ruling in favor of muslim inmates. is there a double standard here? >> eric: and this isn't something you see every day in the news. ♪ . >> eric: you know what's happened? there is a tree falling ♪ >> eric: reporter's way of saying tgif. by the way, we do that here all the time, don't we? >> juliet: oh, please, guys. >> eric: "fox & friends" starts right now. >> juliet: we do it here all the time. >> kelly: yeah, i got you. >> juliet: i thought there was going to be some other part to that story, like i found a couple bottles of vodka. >> kelly: oh, my. >> juliet: just kidding. hi, how is everybody. >> eric: all good. >> juliet: good. get to some headlines now. we'll move to serious stuff. the nation is mourning the loss of an american hero. general herbert norman schwarzkopf, known as storming norman or bear, has died of complications fr
CNBC
Dec 27, 2012 3:00pm EST
to help avoid the fiscal cliff. >> back to you very much, mary. four more days to the deadline. can a deal get done. congressman harris joining us now from baltimore. i'm going to talk about your plan in a moment, sir, but let me ask you about the word that we got in the last hour about the house reconvening sunday night. can you shed some light on any significance that may have. what have you heard? should we get our hopes up for sunday evening, or not? >> just got a conference call an hour ago with the speakership and leadership and that's only to get ready for anything coming over to the senate. the senate usually takes a couple of days to pass a bill. haven't even started working on one so the earliest they could have something over to the house would be sunday and the leadership will give its members 48 hours notice tomorrow and get us back in town sunday night. >> are you hearing that the senate's working on something that could come your way by then? >> there's a rumor that the president has taken mrmr. boehne mr. boehner's plan "b" and added unemployment insurance. i'm sure the sen
CNBC
Dec 27, 2012 12:00pm EST
it is not done dealing with. i don't think it's a good time. we're going over the fiscal cliff but shortly there after, gold is going. long term i want gold but short term not so much. >> now you know what these guys think. what about you? if we do go over the cliff, would gold go higher or lower. tell us. sean egan tells us if going over the cliff would mean a slash in the credit rating and ralph acampora, two shows, 1:00 p.m. >> we'll catch you at the top of the hour. give me a target for gold next year. it's at $1660. are we going substantially higher or towards 15? are not and gold and silver has had every reason to move higher in the fourth quarter in 2012. it has not. i think the love affair hedge funds have had with gold is over and view 2013 is the year gold will finally under-perform. >>> coming up, delta's flight status, can it continue its flying stock market run into the new year, one stock, two opinions. we debate it. >>> home prices on track positive for the first time since 2006. which real estate stocks are traders banking on now? >>> japanese stocks trading on highs as the
MSNBC
Dec 26, 2012 2:00pm PST
of congress to come to a deal on the fiscal cliff. shultz followed up with a blog saying everyone should put the pressure on congress. >>> a cartoonist went a more pessimistic approach. a box labeled deficit crisis compromised saying do not open until with all the holidays crossed out signed by boehner and obama. >>> all featured on politico's list of the top viral videos of 2012. the politico ones, of course. here's a look back. >> in the silvery moonlight that bathes every town, the people lie dreaming so safe and so sound. they're warm in their beds, snuggled up in the sheets. but four years before, they were out in the streets. sorry, my friend, but there's no time to snore. we're all on our own if romney has his way. and he's against safety nets. if you fall, tough luck. so i strongly suggest that you wake the [ bleep ] up. >> there's only one thing that might deny us the presidency that is the god-given property of the republican party. >> the 47%? >> nope? >> caymen islands? >> nope. >> $10,000 bet, i like to fire people? >> no. it's a story about an actual shaggy dog. apparently on v
MSNBC
Dec 27, 2012 4:00pm PST
obvious. the prospect of reaching a deal to avoid the fiscal cliff before january 1st is very unlikely. that's putting it lightly. let's watch. >> there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. the speaker just has a few days left to change his mind, but i have to be very honest, mr. president, i don't know timewise how it can happen now. >> well, that was plain. this afternoon senate minority leader mitch mcconnell said he wasn't willing to offer the white house a blank check just because we're on the edge of the cliff. take a look. >> last night i told the president we'd be happy to look at whatever he proposes, but the truth is we're coming up against a hard deadline here, and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> well, actually it's not a blank check the president has been pushing. and this i
FOX News
Dec 28, 2012 1:00pm PST
the house passed that are sitting in the senate. >> we ought to go over the fiscal cliff. i think we shouldn't make a deal where we're not -- we shouldn't raise taxes. we need entitlement reform, then we can talk. if there's no real entitlement reform, there's nothing we can do. democrats spend, spend, spend. now they have the bill, the fiscal cliff and they don't like the result. what are they going to do? it's time you actually put a stop -- >> we're going to have to leave it there. thank you very much. >> thank you. >> a case of extreme helicopter parents sued by their daughter for stalking but is what they did really that bad? you're legal eagles are on the case coming up. ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 combined mpg c-max hybrid. >>> a parents' love is unconditional and sending kids to college is hard. when you plant monitoring software on their compu
CNBC
Dec 27, 2012 1:00pm EST
on their fiscal cliff nerves. this is the first time since the dow has dipped. a deal has been priced in. a lot of people thought something was going to happen. harry reid said we're probably going over the cliff. check out the wall street fear index. they have spiked above 20 for the first time since july. if this is what we're facing, how much worse can the fall get? jackie laid it all out, right? the average individual will have a lot less money to spend and we are a consumer-driven economy. a lot of action down there on the floor. >> people excited. >> is the market acting in a way that surprises you or down the surprise you based on the fact that it looks like we're going to go over? >> it's not acting in any way i shouldn't think it should, let's put it that way. what was surprising was last week's rally. we knew we were going to come into this. oil is rising. >> there was a lot of coombaya. we're still talking. >> right. >> they're not talking. >> it's a bit like christ mags shoppi -- christmas shopping. they're getting paid to do it. it might be better if we do. if we do go over the cli
FOX News
Dec 26, 2012 10:00am PST
from going over the so-called fiscal cliff. they say if president obama and congress don't make a deal we will almost certainly see a recession. do you buy that, steven? >> the congressional budget office is a nonpartisan group that does this and says we will in fact have an immediate rescission. they say that we come out of a short, sharp recession stronger than we would be if we didn't go into that recession in the first place. we stop borrowing money from the future to prop us up now. we have the immediate problems but in the long term we are in gets shape. that's what they are grappling this. how do they best structure this to do the least amount of damage now but get us to the good economy in the future. >> reporter: if you look up a research paper from the president's own economist you'll find in the long run we are healthier, short run, yeah, it's painful. is that what motivates some of the republicans that, you know, what are called chuckle heads, but maybe in the end they are wisdom heads. >> that is certainly part of the motivation there. the other part of the motivation, and
MSNBC
Dec 27, 2012 7:00am PST
with very big issues. in both houses of congress, if we get through this fiscal cliff and get to january, people will rightfully ask is there a better way to do this? since we seem to have a majority in both chambers that would like to solve the problem, but procedurally we're not getting to an answer. >> soon to be senator tim scott takes the oath next week, the only african-american senator, it highlights an interesting dichotomy. republicans have more minorities in the senate than democrats, while the party itself struggles with minority voters. >> i think you hit the nail on the head. clearly the republicans are having a major problem reaching out not just to people of color, but to women and so forth. i think what the republican party is trying to do is say, you know what? we have to do a better job. tim scott is a conservative from south carolina and also he's a earl if legislator in terms of being in the house of representatives, so it's perfect sense for him to go to the senate. we also see to a certain degree the first latino from texas, ted cruz, coming into the senate as well.
FOX News
Dec 26, 2012 8:00am PST
to head back to washington and jump-start the fiscal cliff negotiations with congress. talks fell apart before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion in drastic and draconian allic tax hikes and spending cuts. that will cause a lot of pain for all americans and does congress have enough time to act on this? >> they do. you know it will be very close and it may in fact go beyond the deadline per se although people are thinking at the moment it is possible to get something done by the end of this week. the key here, kelly, is the senate. we have been so focused on the house, speaker boehner, plan. about, plan b falling apart. now speaker boehner is pointing towards the senate and the white house is pointin
CNBC
Dec 28, 2012 4:00pm EST
ago with three days to go before we go over that proverbial fiscal cliff. they are meeting with the president and the treasury secretary timothy geithner, and they are trying to hash out a deal. but reports that the president has nothing new on the table has ended up spooking wall street in a big way just in the last hour, and as bill said we finished down near the lows of the day, down about 157 points for the dow. settling up right now. down what, about 165 at the very low, bill? >> i think so, yes. >> and the nasdaq finishing down 25 points and the s&p off by 15, a fifth straight day in the red. well, it is the last friday of 2012. it's in the books. check. still no deal in sight and no new offer either on the table from the president as eamon javers told us a little while ago. what now for the markets? we have our guests and our very own rick sell sebak with us. rick, let me get to you, first of all, because you're here on the set. what now for the markets? >> what now for the markets? it's going to be up or down dramatically which makes it challenging for all investors
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